AMEC completes Foster Wheeler purchase offer

AMEC said that the offer to purchase all of the issued and to be issued registered shares of Foster Wheeler has been successfully completed.

AMEC is making the necessary filings to change its name to Amec Foster Wheeler, the company said in a statement.

As disclosed in the offer documents, Amec intends to complete the acquisition of Foster Wheeler by effecting a squeeze-out merger and expects that any Foster Wheeler shareholders who have not tendered into the offer and who are to be subject to the Squeeze-Out Merger will be compensated on the same terms as the offer.

AMEC may pursue any legally available method to acquire or control, directly or indirectly, 100 per cent of the issued Foster Wheeler voting rights.

Pursuant to the terms of the implementation agreement with Foster Wheeler, and as previously announced by AMEC, the appointment of Stephanie Newby to the Board of Directors of AMEC became effective upon closing of the offer. Stephanie Newby has also been appointed to AMEC’s Audit and Ethics Committees. The appointment of J. Kent Masters to the Board of Directors of AMEC will become effective following the termination of his employment with Foster Wheeler.